FIA Breaks Up Major Online Fraud Network Across Provinces, Arrests Ringleader

The Federal Investigation Agency’s (FIA) cybercrime department has apprehended Muhammad Shariq, the ringleader of an inter-provincial group that engaged in large-scale online financial fraud.

The group is believed to have stolen millions of rupees from people in different areas by using advanced spoofing technology.

Online scamming has grown into a big business in Pakistan, and scammers often get ahead of police efforts. These smart gangs can empty bank accounts in an instant, making it hard for the police to keep up with their evolving strategies.

Allegedly, the network also compromised bank account-linked phone numbers and used them to fraudulently collect payments from victims’ connections.

Initial investigations have shown that Shariq used cloned apps to manage hundreds of fake microfinance accounts, with each device creating up to fifty false accounts. More than Rs40 million was allegedly stolen from him by his victims over the course of three years. The gang members shared the suspect’s daily withdrawals of up to Rs1 million.

Shariq allegedly gave bank account numbers to different criminal groups in addition to spoofing technology. This allowed them to do more fraud on a larger scale.

The FIA seized two mobile phones from Shariq, which contained transaction records and videos of financial transfers. Among the gang’s strategies was using international phone lines to pose as officials and, with the help of comrades, getting victims’ bank accounts accessed unauthorizedly.

As officials continue to crack down on the growing threat of digital fraud, they are looking into the network to find and arrest other people who are connected to it.